Part 1: Information relating to the inventory quantities, purchases and sales of an eight inch (8") speaker unit by the Stereo Company during 2022 is shown below: Inventory, Jan 1 First purchase - May 12th Second purchase - July 9th Third purchase - Oct 4th Fourth purchase - Dec 18th Goods available for sale Units sold during the year Number Of Units Cost per Total Unit Cost 2,700 $30.00 $81,000 3,540 30.60 108,324 2,400 31.05 74,520 1,860 32.10 59,706 3,000 32.55 97.650 13,500 $421,200 10,400 3,100 Inventory, Dec 31st INSTRUCTIONS: Show all final answers in the Answer Grid below a. Compute the cost of the December 31, 202 inventory and the cost of goods sold for the units in 2022 using: 1. Weighted Average 2. LIFO 3. FIFO

Part 1: Information relating to the inventory quantities, purchases and sales of an eight inch (8") speaker unit by the Stereo Company during 2022 is shown below: Inventory, Jan 1 First purchase - May 12th Second purchase - July 9th Third purchase - Oct 4th Fourth purchase - Dec 18th Goods available for sale Units sold during the year Number Of Units Cost per Total Unit Cost 2,700 $30.00 $81,000 3,540 30.60 108,324 2,400 31.05 74,520 1,860 32.10 59,706 3,000 32.55 97.650 13,500 $421,200 10,400 3,100 Inventory, Dec 31st INSTRUCTIONS: Show all final answers in the Answer Grid below a. Compute the cost of the December 31, 202 inventory and the cost of goods sold for the units in 2022 using: 1. Weighted Average 2. LIFO 3. FIFO

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Description: Part 1: Information relating to the inventory quantities, purchases and sales of an eightinch (8") speaker unit by the Stereo Company during 2022 is shown below:Inventory, Jan 1First purchase - May 12thSecond purchase - July 9thThird purchase - Oct

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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